6 Reasons You're Not Saving Money By Not Using A Real Estate Agent
These days, a proliferation of applications and websites can help potential home buyers and sellers. Because of this, many people will attempt to buy or sell a home without a real estate agent. You may think you're saving money this way, but you can end up spending far more without an agent than with one. Here's why you still need a real estate agent.
1. Real Estate Agents Know Real Estate
While this may seem obvious, you should give it some real consideration. A real estate agent's reason for existence is to bring real estate deals together. They have the training, experience, and drive to make sure a deal works for all parties involved, including themselves.
Real estate agents know the neighborhoods, the history of a property, and how to find out more information where others can't. These are the basic services that come with an agent, and alone they're typically worth the price of hiring one.
2. Real Estate Agents Do This Full Time
Your agent will answer calls, make calls, field prospects, and diligently work full-time on making a real estate deal a reality. Do you have that kind of time to dedicate to the process? Most people don't. Even finding the time to return a single phone call can become a real hassle for those with full-time jobs and other obligations.
3. Real Estate Agents Know How to Negotiate
You may think speaking directly to a potential buyer or seller will help you cut corners and make the process faster. Keep in mind sellers want to sell at the highest price they can reasonably demand. A buyer wants to purchase at the lowest price they possibly can.
Navigating those two extremes isn't easy. The agent can act as a mouthpiece for you to convey your thoughts and ideas in the proper way without insulting or upsetting the potential buyer or seller.
4. Real Estate Agent Can Draft and Navigate Contracts
Purchasing or selling real estate comes with a number of contracts, forms, and agreements. You must first negotiate these terms, and then have them officially documented. If you're unaware of real estate contracts and agreements work, then you can put yourself at a disadvantage by signing something you don't fully understand.
Not only can the real estate agent help to negotiate the contract, he or she can make sure you understand every single point on it. They deal with these contracts regularly, and know the language of them well. They will know which provisions will work for you, and which may need some fine-tuning.
5. Real Estate Agents Can Show Your Property in the Best Light
If you intend to sell, a real estate agent can create a listing for you and place it where the most people will see it. The agent can help you with displaying the property, staging it, and showing it off in the best way possible.
You can take pictures and post the photos here and there. Real estate agents will likely work with a professional for high-quality photographs for the property.
6. You Can Still Receive Real Estate Service Piecemeal
Even if you don't hire a real estate agent to handle every aspect of your home purchase or sale, you can still use one for individual services. The commission for the real estate agent can pale in comparison to what you pay for with inexperience and not doing your due diligence.
Besides, if you're selling, the other party may have an agent who you still will have to pay a commission to during closing. Consider everything a real estate agent offers and you'll start to see there's a good chance you won't save money by not using one.